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Affinity Title

Agent Photo

Joe Lovrek

Area Sales Manager
Address: I serve members in Texas and Kansas
Email: Joe.Lovrek@penfed.org
Phone: (281) 300-5260 
NMLS#: 152577
Get Started Get My Rates Request a call
MLO Map

About Joe Lovrek

When it comes to the important decisions involved in buying, selling, refinancing, or building your dream house, I understand how overwhelming and stressful it can be. That's where I come in. My name is Joe, and I'm here to help you every step of the way.

With a strong focus on excellence, I am committed to providing personalized mortgage services and expert advice to my clients. I want to ensure that you make the right decisions for your unique financial situation. Drawing on my extensive knowledge of market conditions and mortgage programs, I strive to offer quick, precise, and accurate mortgage advice. My goal is to help you choose the best loan options available.

With over two decades of experience in the housing and mortgage banking industry, I have successfully closed thousands of loans. This experience gives my clients the reassurance that I can handle any challenge they have. I specialize in a wide range of loan programs, including Conventional, VA, Jumbo, Investment/Second Home Purchase, Refinance, and Cash-Out.

I look forward to being the loan originator of choice for you and your family for decades to come.

Where Am I in the Homebuying Process?

A pre-approval letter from your lender basically states that you have the financial ability to purchase a home at a specific price. For a pre-approval, you'll need to provide some financial data that can later be verified and validated.

That will likely include the following:

  • Income (all sources)
  • Assets
  • Employment Information
  • Satisfactory credit score
  • Additional information may be needed
House Key

Here are some items you'll need to gather before applying for a mortgage. This will speed up the process but is not required before early disclosures, including the Loan Estimate, which are provided to you by PenFed:

  • W-2 statements for all borrowers (for the last two years)
  • Complete bank statement for all accounts (for two months minimum)
  • Any investment account data, including 401k statements and retirement accounts
  • Recent pay stubs (for two months)
  • A copy of the home purchase sales agreement (signed by all parties)
  • Additional information may be needed, especially if self-employed

House Key

After applying for a loan and having your offer accepted on a home, you'll want to keep an eye on interest rates. Doing that will help you estimate when the best time to lock in your rate with PenFed. Locking in your rate means that you and your lender agree on your final interest rate. Your lender will lock the rate and hold that rate for a specific amount of time (usually 30 to 45 days). Now your interest rate is set. Even if rates go up or down before closing, yours will stay the same through the expiration date of your lock.

House Key

Your lender delivers a loan estimate to you within three business days of your application. It supplies you with information about your mortgage including:

  • Projected monthly payment showing principal, interest, taxes, insurance, and any other assessments
  • Interest rate, discount points if used, and all loan costs like application and underwriting fees
  • Whether your loan has a prepayment penalty
  • Any needed services like appraisals, home inspections, pest inspections, etc.
  • Estimated closing costs and cash needed at the time of closing

House Key

The purpose of an appraisal is to determine the home’s value so the lender knows the property’s worth. A trained appraiser is an unbiased third-party. It’s their job to understand the real estate in a particular area and how yours compares. The lender orders the appraisal and uses it to justify the amount of money lent for the home. Depending on the loan amount and the property, more than one appraisal may be required.

Home inspections are different from appraisals. A licensed inspector does a thorough examination of all the workings of the home. The inspector will likely review items like the age and condition of the roof, appliances, heating and air conditioning, windows, plumbing, and more. The inspection report will list out any deficiencies and repairs needed.

House Key

Underwriting is the process of verifying your loan file and property details to justify approving your mortgage. During this process, the underwriter may ask you to supply additional supporting documents. Here are some of the items the underwriter reviews:

  • Application information
  • Credit score
  • Appraisal
  • Employment history
  • Income and asset validation
  • Cash available to close

House Key

Closing Disclosure

Closing Disclosure

A Closing Disclosure supplies the detailed and expected final information concerning the costs and terms of the mortgage loan you’ve selected. This document is to be delivered to you within three days of closing so that you completely understand all of the financial requirements and closing costs.

Closing on Your Home

The day of closing is an exciting time! You should have your signature hand well-rested as there are many papers to sign. Also, you'll need to bring the necessary funds (wire, certified check or cashier’s check) listed on your closing disclosure. Once the documents have been signed and notarized, you’ll get your keys. Now life in your new home begins.

Power Buyer Certification

Compete with cash buyers and be confident what you can spend on your new home. Take up to 60 days to shop.

Power Buyer Lock While You Shop¹

Protects you from rising interest rates.

Power Buyer Cash Buyer Financing

Lets cash buyers tap into their equity as soon as possible, while having all the advantages of a cash buyer - without tying up your cash.

Learn with Us

What are the different types of mortgages

What are the steps to buying a home

What is an IRRRL

See All Articles

Disclosure

¹Power Buyer Lock While You Shop is applicable to first mortgage pre-approval home purchases that have received approve/eligible finding. Not applicable on HELOC or refinance transactions. To ensure timely closing within the rate lock period, the borrower should provide an executed sales contract and full property address to PenFed within the initial 30 days of the lock period. Extending a rate lock is subject to applicable rate extension fees to be paid at closing. Some loan programs may be excluded.

Power Buyer Certification is contingent on a full underwriting review and approval of loan documentation and other creditworthiness conditions.

Power Buyer Solutions are subject to change at any time and without notice. Talk to a PenFed Mortgage Loan Officer for additional details.

Certain loan types may not be eligible for Power Buyer.

General Disclosures

If you withdraw an application that was locked and reapply within 30 days, the new application is subject to worst case pricing.

Points are the responsibility of the borrower and not covered in promotions.

To receive any advertised product, you must become a member of PenFed.

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This credit union is federally insured by the National Credit Union Administration. Rates are current as of December 2023 unless otherwise noted and are subject to change.

APY = Annual Percentage Yield
APR = Annual Percentage Rate


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Routing #256078446

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IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party Website that is not a part of Pentagon Federal Credit Union.


The content you are about to view is produced by a third party unaffiliated to Pentagon Federal Credit Union. PenFed takes no responsibility for the content of the page.


IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party site. PenFed Realty, LLC is wholly owned by PenFed and this referral may provide PenFed a financial or other benefit.


For more information about the relationship between PenFed and PenFed Realty, LLC, see the Affiliate Business Arrangement Disclosure.


IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party Website.


The content you are about to view is produced by a third party website that is unaffiliated to Pentagon Federal Credit Union. PenFed takes no responsibility for the content of the page.


IMPORTANT NOTICE

You are leaving PenFed.org and entering a third party site. PenFed Title, LLC is wholly owned by PenFed and this referral may provide PenFed a financial or other benefit.


For more information about the relationship between PenFed and PenFed Title, LLC, see the Affiliate Business Arrangement Disclosure.


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